FSM Wealth Advisors LLC Makes New Investment in The PNC Financial Services Group, Inc $PNC

FSM Wealth Advisors LLC bought a new position in The PNC Financial Services Group, Inc (NYSE:PNC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,990 shares of the financial services provider’s stock, valued at approximately $587,000.

A number of other hedge funds have also bought and sold shares of the business. Avior Wealth Management LLC raised its position in The PNC Financial Services Group by 4.5% in the 2nd quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider’s stock worth $226,000 after buying an additional 52 shares during the last quarter. Rockland Trust Co. raised its position in The PNC Financial Services Group by 0.5% in the 2nd quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider’s stock worth $1,957,000 after buying an additional 53 shares during the last quarter. Almanack Investment Partners LLC. raised its position in The PNC Financial Services Group by 2.3% in the 2nd quarter. Almanack Investment Partners LLC. now owns 2,433 shares of the financial services provider’s stock worth $454,000 after buying an additional 55 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in The PNC Financial Services Group by 15.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 429 shares of the financial services provider’s stock worth $80,000 after buying an additional 56 shares during the last quarter. Finally, Kestra Investment Management LLC raised its position in The PNC Financial Services Group by 11.4% in the 1st quarter. Kestra Investment Management LLC now owns 566 shares of the financial services provider’s stock worth $99,000 after buying an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wolfe Research reissued a “peer perform” rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $185.00 to $212.00 in a research note on Wednesday, July 9th. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Finally, The Goldman Sachs Group boosted their price target on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $218.47.

The PNC Financial Services Group Trading Up 0.4%

Shares of NYSE:PNC opened at $181.91 on Friday. The stock has a 50 day moving average of $197.28 and a 200 day moving average of $184.38. The company has a market cap of $71.64 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 1.26 and a beta of 1.10. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.06. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The company had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The firm’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.49 EPS. As a group, equities research analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be paid a dividend of $1.70 per share. The ex-dividend date is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The PNC Financial Services Group’s payout ratio is 43.93%.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.